Cannabis Stocks Rise as 3 U.S. States Vote to Legalize Pot and Jeff Sessions Resigns

North Dakota voters opt not to legalize recreational use despite it already being OK for medical purposes.

Canadian cannabis companies got a shot in the arm on Wednesday as U.S. voters in three states decided to legalize the drug, and one of its biggest political opponents stepped down.

While much of the attention from Tuesday evening’s midterm election focused on the balance of power in Congress, investors were instead focusing on ballot initiatives to legalize recreational marijuana in Michigan and North Dakota, while allowing the drug for medical use in Utah and Missouri.